(MENAFN) India's exports rose in May at the fastest pace in six months, in a boost for the new head government as it signaled a loosening of gold import rules and a push to improve trade ties with the US, Gulf Daily News reported.
Exports in May jumped 12.4 percent from a year earlier to USD28 billion, while imports were down 11.41percent to USD11.23 billion helped by a 72 percent drop in overseas gold purchases.
India's exports have risen in recent months due to a pick-up in demand from Europe and the US and a weaker rupee currency, while strict controls on gold imports have helped prevent a brewing balance of payments crisis last year.
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